Asia news, updates and analysis | Page 1 of 9

Described in some quarters as an overlawyered market for a country with a population of 25 million, Australia continues to attract investment from the international legal industry in all its shapes and forms. Global giant Dentons, recently-listed DWF and New Law outfit Lawyers On Demand (LOD) have all expanded their presence in the country.

The view from Fort Canning Hill is telling. You stand next to an early 20th century lighthouse, a testament to Singapore’s early success as a maritime trade hub. It shut in 1958, as the skyscrapers vaulting up rendered it hardly visible from the sea – a port at the crossroads of India and China was becoming a major financial centre.

When Brent Irvin joined Tencent as group general counsel (GC) nearly nine years ago, the Chinese upstart was already a tech wunderkind, boasting revenue close to RMB20bn. But few foresaw the trajectory it would take from there: with dramatic growth in 2017, the company is now valued at more than $477bn.

‘You have to, to serve these markets, re-imagine how money can be managed and moved, because there’s going to be more change in the next five years in financial services than happened in the past 30.’

Dan Schulman, chief executive, PayPal

Global investment in fintech companies hit an all-time high of US$27.4bn in 2017, an increase of 18% year on year, with the market showing no sign of slowing. Led by China, the fintech revolution has spread across the rest of Asia, while simultaneously gaining traction in the UK, US and Europe. Continue reading “Special territory: Fintech in Hong Kong”

The clichéd view of the Asia legal market is that it is a very difficult place for international firms to make money. Recent economic underperformance in China has not helped, although the flurry of office openings, hires and deals in the region over the last 12 months would suggest otherwise. Local alliances are the current vogue in China, with the likes of Linklaters and Ashurst opting for these often-complex arrangements.

But while the Asia region is dominated by China, based on recent activity it would seem the so-called secondary markets, like Japan, Singapore, South Korea and Indonesia, could be lucrative areas of interest. As Herbert Smith Freehills (HSF) Greater China managing partner May Tai notes: ‘China remains the driver of growth and the story of our careers. However, activity in South-East Asia is just as busy, from the developed markets of Singapore and Malaysia to rapidly emerging markets, such as Laos and Cambodia.’ Continue reading “Global 100 Asia Focus: Long-term greedy”

The world’s largest law firm by fee-earners, Dentons, is continuing its relentless global expansion as it announces new combinations with seven law firms across Africa, the Caribbean and South East Asia today (14 March).

Dentons is combining with Hamilton, Harrison & Mathews in Kenya, Mardemootoo Solicitors and Balgobin Chambers in Mauritius, Dinner Martin in the Cayman Islands, Delany Law in the Eastern Caribbean, Hanafiah Ponggawa & Partners (HPRP) in Indonesia, and Zain & Co in Malaysia. The combinations mean the firms become full voting, contributing and participating members of the Dentons group, and are expected to launch later this year subject to partner approval and meeting regulatory requirements. Continue reading “Seven wonders: Globetrotting Dentons combines with firms in Africa, the Caribbean and South East Asia”